PDD Holdings (PDD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

PDD Holdings

NasdaqGS•Consumer Cyclical•Internet Retail

$77.84-0.77(-0.01%)Pre-market

Market Cap

$114.70B

P/E

1.2x

P/S

0.3x

P/B

0.3x

PDD Holdings Inc., a multinational commerce group that owns and operates a portfolio of businesses. The company operates Pinduoduo platform, which provides various product categories and interactive shopping experiences; and Temu, an online platform, which enables merchants to streamline their manufacturing and commercial operations. The company was formerly known as Pinduoduo Inc. and changed its name to PDD Holdings Inc. in February 2023. PDD Holdings Inc. was incorporated in 2015 and is based in Dublin, Ireland.

How this company scores

GoodMetricSide Score: 71/100

Strongest: Cash & Earnings Quality (25/25); weakest: Growth (12/25).

Profitability19/25

Growth12/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsHigh ROEInterest easily covered

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 1.2x5y range 1.2x – 8.7x

Currently below its 19-quarter median.

P/S · 0.3x5y range 0.3x – 1.1x

Currently below its 20-quarter median.

P/B · 0.3x5y range 0.3x – 1.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Share Dilution

Red Flag

Shares outstanding increased 24.7% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $114.70B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $449.07B
Q. Revenue: $112.36B
TTM EBITDA: $111.35B
TTM Op. Income: $99.69B
Q. Op. Income: $27.76B
TTM Net Income: $93.26B
Q. Net Income: $27.18B
EPS: N/A
Shares Out.: $1.47B

$449.07B in TTM revenue grew 9.6% YoY, reaching $112.36B last quarter. TTM EBITDA of $111.35B and TTM operating income of $99.69B show growth is flowing through to the bottom line. TTM net income of $93.26B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 29.6%
Op. Margin: 24.7%
Net Margin: 24.2%

Op. margin of 24.7% is down 0.1% YoY — costs are rising relative to revenue. Net margin at 24.2% Over the past year, operating margin is down 0% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 1.2x
P/S Ratio: 0.3x
P/B Ratio: 0.3x

At 1.2x P/E, the stock trades below typical market levels. P/S of 0.3x and P/B of 0.3x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 3 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $663.41B
Cash: $128.92B
Long-Term Debt: N/A
Book Value: $447.79B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

TTM Free Cash Flow: $111.90B
FCF Margin: 24.9%
FCF / Net Income: 1.2

TTM FCF of $111.90B. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.